Krugman’s Solution Is “The Fiscal Equivalent Of War” – Japan Agrees

In the wake of the Bank of Japan (BoJ) decision to stand pat, Japan looks to be in ever more desperate straits, given the growing danger of sliding into its second recession since Abenomics was introduced. Such a recession would be the nail in the coffin of Abenomics, launched with high hopes and much fanfare three years ago. It made sense, therefore, for Prime Minister Shinzo Abe to seek the advice of Paul Krugman, who has been one of the chief cheerleaders for Abenomics, in a private meeting last month meant to lay the groundwork for the G7 Summit at Ise-Shima next month.
Although it was evidently supposed to be confidential, we recently chanced upon a rather revealing transcript of that meeting, which also included BoJ Governor Kuroda and Finance Minister Taro Aso.

This post was published at Zero Hedge on 04/28/2016.